Energy Transitions

The global energy mix is experiencing profound change, with equally profound geopolitical and market challenges and opportunities on the horizon. Policy makers and business leaders will need to develop strategies to navigate the changing global energy landscape, addressing both the challenges and opportunities the energy transition is providing.

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The Western Hemisphere is full of potential and we have the opportunity to galvanize it into an energy powerhouse. This new US energy strategy for the Western Hemisphere will help raise the global competitiveness of the hemisphere, advance its shared prosperity, and improve national and energy security as a result.

Many oil and gas companies have recognized the need to decarbonize the energy system to avoid the impacts of climate change. Initial industry efforts to play a role in the energy transition show sincerity and promise. Yet the urgent need for more oil and gas production for the foreseeable future suggests that a comprehensive framework for the oil and gas industry to support a low-carbon future while simultaneously ensuring the world has enough energy to meet development and economic growth goals has yet to be fully developed. What role can the oil and gas industry play lead the way to an energy-rich, globally prosperous, low-carbon future?

In order to meet growing global demand for electricity, and in response to an increase in renewables, power networks and markets are evolving and becoming increasingly interconnected. South and Southeast Asia have already had some success with interconnections, and China’s vision and Belt and Road Initiative loom large in the region, but there are geopolitical concerns to contend with. Could a US model manage these concerns? What is the state of regional power markets in Asia and investment in regional grid infrastructure, and what responses are we already seeing to emerging trends?

The Middle East and North Africa (MENA) region is projected to experience significant demographic growth by 2050, growth which will have to be met with commensurate economic expansion and job opportunities, or the region will risk an increase in political instability. To meet this challenge, countries in the region must diversify their economies beyond the energy sector and expand their energy sector beyond hydrocarbons. What are the key trends that MENA countries will have to contend with, what is already being done, and what further steps should be taken?

ONLINE EVENT – Musabbeh Al Kaabi, CEO of Mubadala Investment Company’s Petroleum & Petrochemicals platform, discusses the changing global energy outlook in the wake of COVID-19, the growing role of ESG in the energy sector, and the importance of diversification in oil-producing countries, particularly during periods of low oil prices.

ONLINE EVENT – The global energy sector has been hard hit by COVID-19. falling demand, combined with a temporary increase in supply has caused unprecedented energy market volatility. Policymakers and experts will share their thoughts on the crisis and discuss how developments will affect Turkey’s energy sector. The webinar will take place at 5:00 p.m. Turkey Time / 10:00 a.m. EDT.

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Continued energy cooperation between the United States and the European Union has been key in reducing Europe’s energy dependence, but now must also help guide both countries out of the coronavirus economic crisis and cut global emissions in the face of continued climate change.

The race to net-zero emissions is an uphill one. Despite the effects of climate change mounting and time running out, global energy demand is set to grow 50 percent by 2050. One solution to decarbonizing the global energy system while also meeting rising natural gas demand is carbon capture, utilization, and storage (CCUS). However, CCUS has historically been too expensive to be viable, and deployment remains far off track. Enter the Allam Cycle: a novel natural gas power plant design that can theoretically capture 100 percent of emissions while being cost- and efficiency-competitive with advanced natural gas plants.

U.S. role as the world’s leading oil and gas producer doesn’t feel as empowering
as it recently did, with oil prices heading into negative territory for the first time ever this week. Yet there is an opportunity in the oil industry’s unprecedented crisis – and in the further months of market volatility that will come with it. This period presents a chance for the United States to forge a better and more sustainable path to global energy leadership than can be found even within the vast riches of U.S. shale.

Hydrogen technology represents a promising, multifaceted pathway that could offer many industries a new strategy for navigating the transition to net zero emissions. However, the current cost of deployment seems to be the biggest obstacle for widespread adoption.

Dramatically lower oil demand due to the coronavirus pandemic and an emerging supply glut caused by the failure of major oil producers to cut production has slammed the global oil market with a crisis “unique in history,” according to Dr. Fatih Birol.

The Western Hemisphere is full of potential and we have the opportunity to galvanize it into an energy powerhouse. This new US energy strategy for the Western Hemisphere will help raise the global competitiveness of the hemisphere, advance its shared prosperity, and improve national and energy security as a result.

As the European Union aims to become carbon neutral by the year 2050, cooperation with the United States on energy technology, financing, and imports will be critical to helping transition the European energy sector towards a low-carbon future, Director General for Energy at the European Commission Ditte Juul Jørgensen said on February 20.

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